CBD products are now very common and they can be purchased by anyone through online and offline markets. However, even if these products are highly accessible, it is not affordable to many. Compared to other dietary and medical supplements, CBD products are very expensive. Since there is a chance of compromising the quality, people prefer to use expensive products even if there are some cheaper products available in the market. Some manufacturers are deliberately increasing the price of their products to exploit the high demand for these products in the market while others are selling it at the best possible price. The following are some factors that are contributing to the price of CBD products.
Source Of CBD
As you may know, CBD products can be made from both the cannabis plant and the hemp plant. Since both of them are members of the same family, the CBD obtained from these plants is exactly the same. But, the proportion of CBD present in the marijuana plant is higher than that of the hemp plant. However, the CBD products derived from the marijuana plant or the cannabis plant is illegal in many parts of the world. This is because it may contain a high concentration of a compound known as THC and it may affect the brain functions of the user. Therefore, the manufacturers are required to have CBD from a single source and it will contribute to the price of CBD products.
Type Of Hemp
The type of hemp used in a product has a direct impact on its price. The studies have proved that the hemp plant is a bio-accumulator, which means the hemp plants have the capacity to extract all the chemical and mineral substances from the soil. For this reason, hemp manufacturers are recommended to follow organic farming techniques. The benefit of following this method of farming while growing the hemp plant is that the CBD derived from it will be pure. But, organic farming techniques are more expensive than normal methods and the yield will also be very low. Therefore, the CBD products made with organically grown hemp plants will be more expensive than other products.
Extraction Method
CBD can be extracted using different methods like CO2 extraction, solvent extraction, etc. All these methods are designed to produce only certain types of CBD products. For example, the solvent method is the cheapest mode of extracting CBD. But this technique cannot be followed by manufacturers if they are planning to produce CBD isolates. On the other hand, the CO2 extraction method is suitable for producing all types of CBD products but it’s set up cost is very high. In short, the method used for extracting CBD is a factor determining the price of CBD products. Presently, many manufacturers are following the distillation method to extract CBD because it is comparatively cheaper than the rest.
Type Of Product
There are so many different types of CBD products available in the market. Some of them are for oral consumption while some others are for topical application. There are many other products like CBD vapes, dabs, gummies, etc. Some of these products are made through many complex and time-consuming process and it will be reflected in their final price. On the other hand, some products like CBD oil and buds are sold without much further processing and their price is comparatively low. The price of a CBD product is also determined considering its usefulness and demand in the market.
Concentration Of CBD
The proportion of CBD in different products will be different. There are highly concentrated and mild CBD products. These products are made for certain specific uses. For example, strong or highly concentrated CBD products are made as a cure for certain conditions like anxiety, depression, hypertension, etc. The mild products are for those people having CBD as a nutritional supplement. The proportion of CBD used in a product has a direct impact on its price. If the quantity of CBD is more in a product, its price will be higher than those products having a low concentration of CBD.
Certification Cost
CBD is a new product and most people don’t have the proper knowledge to determine whether a product is good or bad. To save the consumers from falling into the trap of fraudsters and also to increase the goodwill, most of the renowned CBD manufacturers are providing a certificate stating all the necessary details about the chemical composition of the product. Most of these certificates are issued by third-party laboratories after testing those products. This is an expensive process and the cost incurred for testing and certification is normally carried on to the final price of those products.
The above mentioned are some factors contributing to the price of CBD. As you might have noticed, you cannot buy any CBD product at a cheaper cost without compromising on its quality. Therefore, it is better not to consider price as a deciding factor while shopping for CBD products.